KEY TAKEAWAYS
- Celer Network launches cBridge support for Redbelly Network, enhancing cross-chain compatibility for tokenized real-world assets.
- The integration facilitates seamless token bridging between Ethereum, BNB Chain, and Redbelly, aiming to provide deep, multi-chain liquidity for global RWA markets.
- Redbelly Network, chosen by the Reserve Bank of Australia for Project Acacia, is designed for regulated finance with features like deterministic consensus and formal verification.
- Celer’s potential integration of its Inter-chain Messaging Framework could enable advanced cross-chain dApp functionalities, including NFT bridges and streamlined transactions.
Celer Network has announced the launch of cBridge support for Redbelly Network, a compliance-first Layer 1 blockchain designed for tokenized real-world assets (RWAs). This integration enhances cross-chain compatibility, facilitating seamless interactions between different blockchain ecosystems.
The integration allows for smooth token bridging, enabling value transfer between Ethereum, BNB Chain, and Redbelly. This development aims to provide global RWA markets with the deep, multi-chain liquidity they require.
Redbelly Network’s Institutional-Grade Features
Redbelly Network, founded by University of Sydney professor Vincent Gramoli, is engineered for regulated finance and large-scale asset tokenization. It features deterministic consensus, formal verification, and an integrated identity framework, making it suitable for institutional-grade RWAs.
Redbelly’s credibility was further established when the Reserve Bank of Australia selected it for Project Acacia, a pilot for wholesale central bank digital currency (CBDC) and tokenized asset settlement.
Future Prospects with Celer’s Inter-chain Messaging Framework
Celer Network is initially supporting asset and token bridging through a pegged bridge method for transfers between the chains. There is also potential to integrate Celer’s Inter-chain Messaging Framework, a protocol that enables developers to build decentralized applications (dApps) with cross-chain application logic on Redbelly.
This integration could facilitate the development of NFT bridges, cross-chain reward claiming, and the ability to purchase and bid on NFTs across different chains. These features aim to offer users a streamlined, single-click transaction experience.
Why This Matters: Impact, Industry Trends & Expert Insights
The launch of cBridge support for Redbelly Network by Celer Network marks a significant development in enhancing cross-chain compatibility and facilitating seamless interactions between different blockchain ecosystems.
Recent industry reports indicate that real-world asset (RWA) tokenization has become a rapidly growing trend, driven by regulatory clarity, institutional adoption, and technological maturity. This aligns with the integration of Redbelly Network, which is designed for tokenized real-world assets, enhancing its appeal to institutional investors and expanding the market for RWAs.
As per insights from Gate.com, Celer Network is recognized for its robust layer-2 scaling platform, which optimizes payment throughput and channel utilization. This supports the news event by potentially providing substantial improvements in transaction speed, cost, and network scalability through the integration with Redbelly Network.
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